One of the most interesting and important indicators of attractiveness of different neighbourhoods for investment and general family living is a comparison between the community now and how it was in the previous year for the same time period. The following figures come from the Toronto Real Estate Board "Community Housing Market Report York Region: Aurora, Bayview Northeast."
3rd Quarter 2013
3rd Quarter 2014
Average Home Price
Days On Market
Average Sold Price to Listing Price
From this chart it is easy to see that Home Sales decreased by 4 from 43 in 2013 to 39 in 2014. The Average Home Price has gone up by $71,517 during the same time period with the Dollar Volume up slightly by $269,089. New Listings are down by 16 over 2013 and Active Listings are down by 12. The Average Days On the Market has decreased to 19 from 21 a year earlier, while the Average Sold Price to Listing Price has remained the same at 98%.
Increase / Decrease
Bayview Northeast is another great Aurora neighbourhood for increasing the value of real estate holdings. Homes sales decreased as the active listings decreased. This lower level of inventory has helped keep the home values up as more people vie for a smaller level of home inventory. Sales of detached homes remain at the top but freehold townhouses came in stronger in 2014. It is apparent that the housing market remains strong compared to other countries, and with an interest rate that remains relatively low, the Bayview Northeast, Aurora real estate market should continue to prosper along with other markets in York Region.